Now, for many of you, this may sound very basic. And, as you read this you’ll probably say; “I’ve heard it all before!” The problem is… “Not one in a hundred agents are doing it!” Why aren’t more agents doing it? It’s because they believe it’s too complicated; it takes too much work, and they don’t know where to start! What am I talking about? I’m talking about creating a simple and very effective business plan!
Let’s make it very easy and we’ll help you get started…
All of the talk about a business plan is not hooplah.
If you really want to grow your business in 2018, then you must have a plan.
An insurance business plan is just as important as it is in all other industries!
Have you ever used or heard the following?
“People Don’t Plan To Fail, They Just Fail to Plan”
It’s something we tell our prospects to help see the value of establishing a financial plan… And, it certainly applies to your business!
To formulate a simple business plan, you first need to look at the key activity areas within your business… that actually make you money.
Here’s a good place to start…
Take a few minutes to answer these questions. If you don’t have all the answers, then do a little research. Estimate if you have to. It’s not that hard and it will pay big dividends in your results for 2018!
How many prospects did you put into your pipeline last year?
Where did these prospects come from? (purchased leads, referrals, lead list, mailing campaign, neighbors, friends, current clients, etc.)
How many of these prospects did you contact every week?
How many appointments did you get from those contacts?
How many appointments turned into fact-finding interviews?
How many fact-finding interviews turned into closing interviews?
How many closing interviews resulted in a sale?
From which prospecting group did most of your most profitable sales come from?
Now, the big question is: “Are you spending most of your time on these activities?”
If you answered: “No!” Then that’s the first place you should start your business plan. What are you going to do to ensure that you focus and work on the activities that actually make you money? You can’t make a $100 per hour doing clerical work!
Let’s look at your key activity areas…
What’s working and what’s not working?
Which of these areas needs the most improvement?
Now, write down what you are going to do to improve the results in those key areas.
That’s it. You’ve just created your simple and very effective business plan for 2018!
Now there’s just one more step…
You must follow it! Which means you must keep it in your face and look at it every day! Hang it on your bathroom mirror, put it everywhere where you’ll be sure to see it every day!
Two key money-making areas…
Here are two key money-making areas that most agents are completely overlooking – their current clients and referrals! You might want to add them to your business plan.
1. Establish a client-nurturing program. Would you like to make easy sales? Then, here is what you need to do:
Set up a system to stay in contact with your clients every month? Send them a newsletter.
Provide value-added services and information which are not directly linked to a sale? Send them articles from the newspaper or Internet about things that concern them and their families. Things that are not directly related to your business.
All clients are NOT the same. Ensure that you have segmented your clients into 6-star, 5-star, 4-star and 3-star. The 6-star clients get the “6-star” treatment.
Gather information on an on-going basis in terms of who your clients are, what their current needs are and how you can improve your level of service to them.
2. Establish a referral program to maximize your word of mouth sales. It doesn’t need to be fancy. There are a number of ways you can increase referrals including:
Simply asking clients via a follow-up phone call soon after the sale.
Running a workshop and send clients some extra complimentary tickets for their friends.
Putting a referral form and a return envelope in the envelope with your newsletter and other correspondence you send to your clients.
Developing a referral incentive and write to your customers promoting a special incentive or reward every time they refer a friend.
Develop a simple business plan today and you’ll guarantee that 2018 will be… Your Most Profitable Year Ever!
Want help with creating your business plan? Check this out or call us – 877-297-4608